New Office Development - Overland Park, KS

[John Drowns]

Investment Info:

Office Space commercial investment investment in Overland Park.

Purchase price: $36,780,000
Cash invested: $11,300,000

The overall CityPlace development includes up to 600,250 square feet of office, 1,382 multifamily units, 140 senior units, and up to 60,000 square feet of retail space located at the SWC of College Blvd. & Hwy-69.

www.blockllc.com/CityPlace/The...
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How did you find this deal and how did you negotiate it?

This is a Block Real Estate Services, LLC development.

How did you finance this deal?

Approximate Terms: 70% LTV on Total Project Cost, 12 months IO, 5%, 300 month amortization.

How did you add value to the deal?

Assemblage and development; lease-up in progress.

What was the outcome?

Currently under development. 37.4% pre-leased for 10-years